Oil Discovery In The Gulf Of Mexico
Petrobras announces a new oil discovery in the extreme southwestern part of the Walker Ridge concession area, located in America’s Gulf of Mexico ultra-deep waters. The discovery confirms the Lower Tertiary’s potential in this area. The Logan discovery is approximately 400 km (250 miles) southwest of New Orleans, at a water depth of around 2,364 m (7,750 feet). Further exploration activities will define the recoverable volumes of the discovery and its commercial potential.
The discovery was made by drilling operations of well WR 969 #1 (Logan #1), in block WR 969. Statoil is the consortium’s operator, with a 35% stake. Petrobras America Inc. (a subsidiary of Petrobras headquartered in Houston, Texas) holds 35% of the stake, while Ecopetrol America and OOGC hold 20% and 10%, respectively.
GoM Operator
In the Gulf of Mexico, Petrobras is the operator of Cascade (100%) and Chinook (66.7%) oilfields and holds stakes in the Saint Malo (25%), Stones (25%) and Tiber (20%) discoveries, all with significant oil reserves in the Lower Tertiary. Additionally, Petrobras has stakes in the very recent Hadrian South (23.3%), Hadrian North (25%) and Lucius (9.6%) discoveries, all with significant oil reserves and in the Mio-Pliocene. Petrobras holds other exploratory concession areas in this region, which will be tested later on, growing the company’s operations in the Gulf of Mexico.